香港交易及結算所有限公司、香港聯合交易所有限公司（「聯交所」）及香港中央結算 有限公司（「香港結算」）對本公告的內容概不負責，對其準確性或完整性亦不發表任 何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容 而引致的任何損失承擔任何責任。 本公告乃應上海天數智芯半導體股份有限公司（「本公司」）董事（「董事」）會（「董事 會」）要求而刊發。董事會對本公告的準確性共同及個別地承擔責任。 本公告僅供參考，並不構成收購、購買或認購本公司證券的邀請或要約。本公告並 非招股章程。潛在投資者在決定是否投資於將予發售的H股之前，應細閱本公司所 刊發日期為2025年12月30日（星期二）的招股章程（「招股章程」）內有關下文所述全球 發售的詳細資料。有關發售股份的任何投資決定應僅依賴招股章程所提供的資料而 作出。 發售股份的潛在投資者務請注意，倘於上市日期上午八時正（中國香港時間）之前任 何時間發生招股章程「包銷 — 包銷安排及開支 — 香港公開發售 — 終止理由」所載 任何事件，獨家保薦人及保薦人兼整體協調人（為其本身及代表香港包銷商）有權立 即終止其根據香港包銷協議須承擔的責任。 本公告不會直接或間接於 ...

Group 1: Market Overview - The Hang Seng Index closed at 25,774 points, down 0.11% with a year-to-date increase of 28.49% [5] - The US stock market saw gains with the Dow Jones up 0.2%, S&P 500 up 0.5% reaching a historical high, and Nasdaq up 0.6% [1] - The trading volume in Hong Kong decreased to HKD 157.1 billion [1] Group 2: Economic Outlook - The Hang Seng Index has short-term support at the 25,000 point level, with expectations of two interest rate cuts in 2026 following the Federal Reserve's recent rate cut of 0.25% [2] - The Chinese government is focusing on stabilizing investment and addressing supply-demand imbalances in the economy [2] - The US economy showed a strong third-quarter GDP growth rate of 4.3%, exceeding expectations [10] Group 3: Corporate Developments - ByteDance plans to invest approximately RMB 160 billion in AI development next year, a 6.67% increase from this year [11] - Semiconductor company SMIC has implemented a price increase of about 10% on some of its production capacity [11] - AEON Credit reported a net profit of HKD 353 million for the nine months ending in November, a growth of 28.1% [11] Group 4: Industry Trends - The domestic gaming market in China is projected to reach a sales revenue of RMB 350.79 billion this year, marking a year-on-year growth of 7.68% [9] - The lithium industry is optimistic about future price expectations, with market inventory decreasing and demand from new energy vehicles and energy storage showing strong performance [9] - The Chinese real estate market is expected to stabilize with new policies aimed at promoting the sale of existing properties and improving housing supply [9]

Market Performance - The Hang Seng Index (HSI) fell by 27 points or 0.11%, closing at 25,774 points after a brief rise to 25,927 points[1] - The National Index dropped by 25 points or 0.29%, ending at 8,913 points[1] - The Hang Seng Tech Index decreased by 37 points or 0.69%, closing at 5,488 points[1] - Total market turnover was HKD 157.131 billion[1] Currency and Economic Indicators - The RMB/USD central parity rate was adjusted up by 49 points to 7.0523, marking a 15-month high[2] - The Shanghai Composite Index rose by 2 points or 0.07%, closing at 3,919 points with a turnover of CNY 806.85 billion[2] - The Shenzhen Component Index increased by 36 points or 0.3%, closing at 13,368 points with a turnover of CNY 1.09 trillion[2] - The ChiNext Index gained 13 points or 0.4%, closing at 3,205 points with a turnover of CNY 493.7 billion[2] U.S. Economic Data - The U.S. GDP annualized growth rate for Q3 was reported at 4.3%, significantly higher than Q2's 3.8% and the previous forecast of 3.3%[3] - The U.S. government announced plans to increase tariffs on semiconductor imports from China by June 2027, with initial rates set to zero for the first 18 months[4] Automotive Market Trends - In November, new car sales in Europe rose by 2.4% year-on-year to 1.1 million units, marking the fifth consecutive month of growth[4] - BYD's new car registrations surged by 221.8%, achieving a market share of 2%, slightly behind Tesla's 2.1%[4]

Market Overview - The Hang Seng Index (HSI) is expected to find short-term support around the 25,000 point level, following the Federal Reserve's interest rate cut of 0.25% in December, with market expectations for two additional rate cuts in 2026 after the leadership change [2][5] - Despite the Fed's rate cuts and increased monetary policy space in mainland China, the economic situation remains stable, and there is limited incentive for further policy easing in the short term [2] - The focus is on the Central Economic Work Conference's deployment, with the 14th Five-Year Plan emphasizing expanding domestic demand and promoting technological self-reliance [3] Company News - Sanhua Intelligent Control (2050) forecasts a net profit growth of 25%-50% for the year, driven by its leadership in the refrigeration and air conditioning parts industry and strong demand in the automotive parts sector [4][12] - Cathay Pacific (0293) reported a 26% increase in passenger numbers in November, with expectations for annual performance to surpass last year [4][12] - Vanke (2202) has extended the grace period for its domestic bond, with a principal amount of 2 billion yuan, although the proposal for a one-year extension was not approved [4][12] - Geely Automobile (0175) has completed the privatization of Zeekr, which will now operate as a wholly-owned subsidiary [4][12] Industry Insights - The telecommunications industry in mainland China reported a cumulative revenue of 1.61 trillion yuan in the first eleven months, reflecting a year-on-year growth of 0.9% [10] - The Hong Kong stock market led global IPO financing in 2025, with a total of 274.6 billion HKD raised, marking a significant increase from the previous year [10] - The insurance regulatory authority in Hong Kong is proposing new regulations to guide insurance capital towards cryptocurrencies and infrastructure assets [10][11] - The automotive sector saw the top ten SUV manufacturers sell 9.583 million units from January to November, accounting for 65.9% of total SUV sales [10]

Core Viewpoint - Huahong Semiconductor (01347) has shown a significant upward movement in stock price, indicating potential recovery in the semiconductor industry [1][4]. Group 1: Stock Performance - As of December 22, the stock price of Huahong Semiconductor is 70.85 HKD, up 4.58% from the previous closing price of 67.75 HKD, reflecting an increase of 3.1 HKD [1]. - The trading volume is approximately 21.33 million shares, with a turnover exceeding 1.5 billion HKD. The stock has fluctuated between 68.5 HKD and 72.45 HKD today, with a volatility of about 5.83% [2]. Group 2: Technical Analysis - The technical indicators show a breakout pattern, with key indicators starting to strengthen despite several sell signals. The Bull-Bear Power indicator has issued a "buy" signal, and the Bollinger Bands also indicate a "buy," suggesting increasing upward momentum [2]. - Over the past five days, the stock has experienced a volatility of 10.8%, providing ample short-term trading opportunities [2]. Group 3: Key Levels and Market Sentiment - Key support is identified at 66.6 HKD, with the next level at 61.7 HKD. Resistance is initially at 77.2 HKD, with a potential challenge at 80.9 HKD if broken [4]. - The recent price movement above 70 HKD is interpreted as a signal of either a broader recovery in the semiconductor industry or specific positive news for the company [4]. Group 4: Investment Products - For bullish investors, options such as the 19857 Bank of China call warrant (3.4x leverage, exercise price 73.52 HKD) and the 20249 Credit Suisse call warrant (3.3x leverage, exercise price 73.5 HKD) are recommended [7]. - For bearish investors, the 21316 Bank of China put warrant (2.7x leverage, exercise price 72 HKD) and the 57395 Societe Generale bear warrant (6.1x leverage, redemption price 82 HKD) are available [7].

香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性或完整性亦 不作任何陳述，並明確表示對因本申請版本的全部或任何部分內容而引致或因依賴本申請版本的全部或任何部 分內容而引致的任何損失不負任何責任。 Lontium Semiconductor Corporation 龍迅半導體（合肥）股份有限公司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警 告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）與證券及期貨事務監察委員會（「證監會」） 的要求而刊發，僅用作提供資料予香港公眾人士。 本申請版本為草擬本，其所載資料並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即 代表 閣下知悉、接納並向本公司、其獨家保薦人、獨家整體協調人、顧問或包銷團成員表示 同意： 本公司招股章程根據香港法例第32章《公司（清盤及雜項條文）條例》呈交香港公司註冊處處長註 冊前，本公司不會向香港公眾人士提出要約或邀請。倘於適當時候向香港公眾人士提出要約或 邀請，有意投資者務請僅依據呈交香港公司註冊處處長註冊的本公司招股章程作出投資決定； 招股章程的文本將於發售期內向公眾派發 ...

Group 1: Semiconductor Sector Overview - The semiconductor sector is facing pressure due to concerns over industry demand, leading to mixed performances among stocks [2][7] - Semiconductor stocks, including SMIC, are showing signs of short-term weakness, with technical indicators suggesting a potential bottoming out [1][2] Group 2: SMIC Stock Performance - SMIC's stock closed at HKD 64.7, with a slight decline of 0.08% and a trading volume of HKD 2.551 billion [1] - Technical indicators for SMIC show it is below short-term (MA10: HKD 67.16), medium-term (MA30: HKD 69.87), and long-term (MA60: HKD 73.85) moving averages, indicating a weak short-term trend [1] - Despite the decline, there are signs of a potential rebound, with a composite signal indicating "buy" and an RSI of 39, nearing oversold territory [1][2] Group 3: Other Semiconductor Stocks - Hua Hong Semiconductor closed at HKD 67.25, down 1.39%, also below moving average resistance, with neutral technical signals [1] - Shanghai Fudan saw an increase of 7.03% to HKD 45.06, but its RSI reached 58, indicating potential profit-taking pressure [1] - Other tech stocks like Sunny Optical and ZTE also showed weak technical patterns, with sell signals present [1] Group 4: Options and Leverage Products - Various structured products related to SMIC have shown high elasticity, with notable gains in warrants over a short period [2][5] - Selected high-value warrants include UBS call warrants with a strike price of HKD 73.85 and a leverage of 5.8, suitable for conservative investors [5] - HSBC put warrants with a strike price of HKD 62.81 and a leverage of 3.3 are recommended for those anticipating short-term pullbacks [5][6]

Group 1 - The report highlights a significant decline in the US manufacturing index for December, which turned negative at -3.9, falling short of the expected 10, indicating a contraction in activity [9] - Bitcoin has dropped below $86,000, reaching a low of $85,380, marking a decline of 5.1% [9] - The report suggests an asset allocation strategy focusing on equities as the main axis, with bonds as stabilizers, gold for risk mitigation, and alternative assets to enhance risk-adjusted returns, aiming to build a cross-cycle portfolio [9] Group 2 - The report notes that major Wall Street firms are optimistic about the US stock market outlook, with the Dow Jones Industrial Average rising by as much as 221 points to a high of 48,679 points, although tech stocks showed weakness [11] - The report mentions that the New York Fed President Williams indicated a shift in monetary policy stance to neutral after recent rate cuts, which positions the Fed favorably to address future challenges [11] - The report discusses the economic data from mainland China for November, which fell short of expectations, with retail sales growth at only 1.3%, the lowest in nearly three years, and fixed asset investment down by 2.6% year-to-date [13] Group 3 - The report highlights the performance of the Hong Kong stock market, with the Hang Seng Index closing down 347 points (1.3%) at 25,628 points, indicating a lack of catalysts for short-term market movement [13] - The report notes that the luxury car brand Hongqi in China has seen a sales increase of 17.4% year-on-year, reaching approximately 412,000 units last year, reflecting a successful turnaround [13] - The report mentions HSBC's proposal to privatize Hang Seng Bank, with a court meeting and shareholder meeting scheduled for January 8, 2026, to vote on the plan [13] Group 4 - The report provides an overview of key earnings announcements, including Lennar Corporation, which is expected to report Q4 2025 results [18] - The report highlights General Electric's strong Q3 2025 performance, with adjusted revenue of approximately $11.3 billion, a year-on-year increase of about 26% [23] - Bristol-Myers Squibb Co is noted for raising its full-year revenue guidance to approximately $47.5 billion to $48 billion, reflecting confidence in core products and new drug launches [25]

香港聯合交易所有限公司與香港證券及期貨事務監察委員會對本申請版本的內容概不負責，對其 準確性或完整 性亦不發表任何意見，並明確表示概不就因本申請版本全部或任何部分內容而產生 或因倚賴該等內容而引致的 任何損失承擔任何責任。 Gpixel Changchun Microelectronics Inc. 長春長光辰芯微電子股份有限公司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「交易所」）及香港證券及期貨事務監察委員會（「委 員會」）的要求而刊發，僅用作提供資訊予香港公眾人士。 本申請版本為草擬本，當中所載資訊並不完整，亦可能會作出重大變動。 閣下閱覽本文件， 即代表 閣下知悉、接納並向本公司、其聯席保薦人、顧問或承銷團成員表示同意： 倘於適當時候向香港公眾人士提出要約或邀請，有意投資者務請僅依據與香港公司註冊處處長 註冊的本公司文件作出投資決定；文件的文本將於發售期內向公眾派發。 (a) 本文件僅為向香港投資者提供有關本公司的資料，概無任何其他目的；投資者不應根據本 文件中的資料作出任何投資決定； (b) 在交易所網站登載本文件或其補充 ...

香港聯合交易所有限公司與證券及期貨事務監察委員會對本聆訊後資料集的內容概不負責，對其準 確性或完整性亦不發表任何意見，並明確表示概不就因本聆訊後資料集全部或任何部分內容而產生 或因倚賴該等內容而引致的任何損失承擔任何責任。 本聆訊後資料集為草擬本，其內所載資訊並不完整，亦可能會作出重大變動。 閣下閱覽本 文件，即代表 閣下知悉、接納並向本公司、本公司的聯席保薦人、整體協調人、顧問或承銷團成員 表示同意： 本公司招股章程根據香港法例第32章《公司（清盤及雜項條文）條例》送呈香港公司註冊處處長 註冊前，不會向香港公眾人士提出要約或邀請。倘於適當時候向香港公眾人士提出要約或邀請，有 意投資者務請僅依據於香港公司註冊處處長註冊的本公司招股章程作出投資決定；招股章程的文本 將於發售期內向公眾人士派發。 OmniVision Integrated Circuits Group, Inc. 豪威集成電路（集團）股份有限公司 （「本公司」） 39553 \ (Project Hercules_PHIP) \ 14/12/2025 \ M08 （於中華人民共和國註冊成立的股份有限公司） 的聆訊後資料集 警告 本聆訊後資料集乃根 ...